Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.060%

Price spread now: edgeX against Popdex−0.142%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Popdex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.352%+$35 on $10k

Price spread, last 3 days (all we have)+0.105%+$11 · spread now −0.142%, 7d avg −0.012%

Together, before fees+0.457%+ Points / potential airdropedgeX: Active · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.130% cheaper against Popdex than usual: you would sell low and buy high (spread −0.142% now, against its 7-day average of −0.012%). If the spread goes back, that is −$13 on $10k: about 2.2 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	742.09	0.0048	pay 0.0006% / 1h	13m 22s	$178K	$201K	20x
Short	edgeX METAUSDC	741.04	0.0248	get 0.0124% / 4h	1h 13m	$62K	$332K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Popdex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PopdexbpFee edgeXbpOrdersPrice spread, now −0.142%Rate

Funding earned: $41.95
Price spread: −0.142% → −0.012%: −$13.02
Slippage, 4 orders: −$11.74
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $1.79
Costs to cover: 0.271%
Break-even: 6.7 days

Slippage from Popdex: live order book, 5 min ago; edgeX: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Popdex live order book, 5 min ago	0.34 bp	3.9 bp −$4	6.6 bp −$66	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	5.13 bp	9.7 bp −$10	11.2 bp −$112	doesn't fit	doesn't fit

META on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin META-USDT	−0.0120%	8h	742.41	+0.043%	$327K	$1.1M	20x	as long as short
Nado META-PERP	−0.0069%	1h	741.49	−0.081%	$394K	$327K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	−0.044%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.05	−0.005%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.19	+0.013%	$26.9M	$178.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.94	−0.020%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.14	+0.007%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.43	−0.089%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.14	+0.007%	$5.8M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	741.01	−0.145%	$1.6M	$2.6M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.11	−0.132%	$12K	$500K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.23	+0.019%	$675	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.07	−0.003%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.94	−0.020%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	741.92	−0.023%	$2.2M	$14.3M	10x	as long as short
Hotstuff META-PERP	+0.0024%	1h	741.90	−0.026%	$33K	$105	20x	as long as short
Lighter RH META	+0.0032%	1h	742.01	−0.011%	$752K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.53	−0.075%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.08	−0.001%	—	$9K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	742.09	long leg	$178K	$201K	20x
Polymarket Perps META-USD	+0.0050%	1h	741.97	−0.016%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.87	−0.030%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.67	−0.057%	$648K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	741.78	−0.041%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0057%	1h	742.18	+0.012%	$50K	$66K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	741.70	−0.053%	$605K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.31	−0.105%	$291K	$791K	20x	as long as short
Lighter META	+0.0088%	1h	742.09	0.000%	$863K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.55	−0.073%	$1.6M	$367K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.87	−0.164%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.85	−0.032%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.70	−0.053%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0121%	1h	742.08	−0.001%	$67.4M	$121.8M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.89	−0.162%	$169K	$46K	30x	as long as short
edgeX METAUSDCshort	+0.0248%	4h	741.04	−0.142%	$62K	$332K	10x
Deribit META_USDC-PERPETUAL	+0.0492%	1h	741.98	−0.015%	$30K	$256K	10x	as long as short